Featured News

Covid-19 Causes A Good Surprise

(June 5, 2020, 6:37 p.m. EST) The Covid-19 epidemic surprised the world again Friday morning, when the Labor Department announced 2.5 million jobs were created in May.

According to Yardeni Economic Research, an independent economic research firm to institutional investors, Wall Street had expected a loss of 4.25 million jobs in May.

Through the end of April, the economy lost a stunning 20.6 million. The additional jobs losses that had been expected would have made the epidemic the biggest job killer since The Great Depression of 1929.

The May unemployment rate had been expected by Wall Street to rise to 19.7%, from 14.7% in April. It dropped to 13.3%!

The Standard & Poor's 500 (S&P 500) closed at 3,193.93, up 4.8% from last week and 35.2% from the March 23rd bear market low.The index had gained 3% a week earlier and 3.2% the week before.

The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is a market-value weighted index with each stock's weight proportionate to its market value. Index returns do not include fees or expenses. Investing involves risk, including the loss of principal, and past performance is no guarantee of future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted.

Nothing contained herein is to be considered a solicitation, research material, an investment recommendation, or advice of any kind, and it is subject to change without notice. It does not take into account your investment objectives, financial situation, or particular needs. Product suitability must be independently determined for each individual investor.

This material represents an assessment of the market and economic environment at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions.

This article was written by a professional financial journalist for Myles wealth management and is not intended as legal or investment advice.

Resources

Free Portfolio Review

Myles Wealth Management, LLC is a registered investment adviser offering advisory services in the states of New York, New Jersey, Virginia, and in other jurisdictions where exempted. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by our firm in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable stat exemption.